Watch List notes:

The Roman Empire
Octavian as Augustus, 27 BC – 14 AD

Aureus 27 BC, AV 7.94 g. CAESAR·COS·VII – CIVIBVS·SERVATEIS Head r. Rev. AVGVSTVS Eagle with spread wings and head l., standing facing with oak wreath flanked by S – C; behind, two laurel branches. C 30. Bahrfeldt 113. Kent-Hirmer pl. 35, 125. BMC 656. RIC 277. CBN 911 (Ephesus). Calicó 173a (these dies).
Extremely rare. A very interesting and intriguing reverse and an unusual portrait
struck on a very broad flan. Good very fine / about extremely fine
This aureus is one of the clearest testaments to the foundation of the Roman Empire, for it seems to be the first issue after Octavian was awarded the name Augustus at the senate meeting of January 16, 27 B.C. Its inscriptions and designs are laden with symbolism, reflecting Augustus' newly confirmed role as leader, commander and saviour of the nation. The reverse composition is heraldic in appearance, as if a new coat of arms for Rome's first emperor.Though he accepted the name Imperator Caesar Augustus, Dio (53.16) notes that Augustus' heart had been set on the name Romulus, an idea he abandoned when it aroused suspicions that he desired the kingship. Dio suggests that the name Augustus signified "...that he was something more than human, since indeed all the most precious and sacred objects are referred to as augusta. For this reason when he was addressed in Greek he was named Sebastos, meaning an august individual..."In addition to awarding his new name, the senate heaped further honours upon Rome's first citizen at this historic meeting, including the placement of laurel trees in front of his residence, and the hanging an oak wreath, the corona civica, above them. The laurel trees were symbols of honour and respect, and the oak wreath symbolised his having saved the lives of many citizens in his effort to restore peace throughout the empire. Augustus was voted these highest honours, Dio says, "...to recognise in perpetuity his status as victor over his enemies and the saviour of the citizens."Dominating the reverse is an eagle, perched upon the oak wreath. As the bird sacred to the supreme Roman deity Jupiter, it is difficult to miss the intended parallel between Jupiter's status in the heavens and Augustus' unrivalled position on earth. The SC, usually absent on precious metal coins, here refers to this monumental decree by which the senate embraced monarchy in all but name.This coinage is often attributed to a period just prior to 27 B.C., yet its inscriptions and designs clearly demand a date soon after the senate meeting of January 16. We may also set aside attributions to a mint in the East, notably Ephesus, as an Italian mint – perhaps Rome – is to be preferred.